Jazz' net loss deepens to $46.7M in 1st qtr

The USA's Jazz Pharmaceuticals says that first-quarter 2008 net loss increased to $46.7 million from $19.6 million in the like, year-ago period, as total revenues were largely flat at $14.6 million versus $14.1 million.

Xyrem (sodium oxybate oral solution), the cataplexy drug Jazz acquired through its 2005 takeover of Orphan Medical, achieved a 32% year-on-year net sales increase to $11.3 million. The firm says it is progressing the US launch of once-daily Luvox CR (fluvoxamine maleate) extended-release capsules after it was approved by the Food and Drug Administration on February 28 for the treatment of both obsessive compulsive disorder and social anxiety disorder, noting that the product was shipped to wholesalers late in the first quarter.

Commenting on operational highlights, chief executive Samuel Saks said: "we recently completed screening of subjects in the first of our Phase III pivotal studies of JZP-6 for the treatment of fibromyalgia syndrome, a key milestone in this program. We look forward to obtaining results from this Phase III trial in the fourth quarter."